A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.
Read more about Flat Tax: Requirements For A Fully Defined Schema, Recent and Current Proposals
Famous quotes containing the words flat and/or tax:
“Ask a toad what beauty is, the supreme beauty, the to kalon. He will tell you it is his lady toad with her two big round eyes coming out of her little head, her large flat snout, yellow belly, brown back.”
—Voltaire [François Marie Arouet] (1694–1778)
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)